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+ 800M IMHO
135 MPH CAT 4 TARGET NEW ORLEANS !!!!
RUN FORREST RUN !!!!
BREAKING NEWS
http://investorshub.advfn.com/boards/board.aspx?board_id=13230
GMX Resources: Emir for a day
It would be great to be the emir of Qatar, sitting atop massive reserves of natural gas as prices for the commodity parallel the rise in crude oil prices and top $13 per million Btu.
But as a small-cap investor you can get the next best thing with GMX Resources, Inc. (Nasdaq:GMXR), a “pure play” exploration and production company based in Oklahoma City.
“Pure play” is when a company’s stock price correlates highly with a single product or investment theme — in this case, natural gas. Much of the play in this pure play is the next big thing in U.S. gas production — the Haynesville Shale in eastern Texas and western Louisiana, which some experts think may turn out to be as big as the Barnett Shale under the Dallas Fort Worth metro area.
A test in late May of a well owned by Penn Virginia (NYSE:PVA) that lies just west of GMX’s acreage showed strong production potential at relatively low cost and is prompting GMX to accelerate its own plans for development.
Tests on Haynesville and Bossier shale sites neighboring that of GMX's acreage have been running so positive that analysts at Jefferies & Co. decided to raise their target on GMXR to $63 from $48 on June 2, 2008. On June 17, GMX announced the acquisition of 9,865 gross / 7231 net operated developed and undeveloped acres mostly in Harrison County, East Texas and Caddo Parish North Louisiana, which includes an average of 85% working interest in 11 units, producing 1,900 mcfepd. The news sent the stock price up to new highs over $70.
To reflect the increased acreage position and rig development in Haynesville, on June 18, Jefferies raised their price target on GMXR to $82 from $63. This price target upgrade was on the heels of Collins Stewart's June 17th increase in price target to $86 from $67, also to reflect GMX's increased acreage position.
Referring to the Penn Virginia test, GMX chief executive Ken Kenworthy said on a May 7 earnings conference call that indications are that the GMX properties have even bigger seams of porosity — that is, where gas is likely to be found. “It does appear that we do have the thickest section of porosity in the shale portion of the Bossier/Haynesville Shale,” Kenworthy.
The company has developed only 36% of its 435 billion cubic feet equivalent (CFE) in proven reserves and has a total of 2 trillion CFE in proven, probable and possible reserves. The goal for 2008 is to raise the development level of its proven reserves to mid-40%. The company’s own estimate of its NAV (valuing proven, probable and possible reserves at different levels) is $123 per share.
On top of that, the company has determined that there are 50 million barrels of oil at conventional, shallower levels in the Haynesville leases. Layered deposits are typical for this formation so that operators can produce oil and gas from traditional vertical wells as well as drill horizontally for shale gas.
Shale gas is a non-traditional source of natural gas that is popular because of high energy prices and new technologies, namely, horizontal drilling and hydraulic fracturing.
Directional drilling provides access to reserves located underneath existing structures or in highly compressed seams, such as shale, by drilling horizontally. Hydraulic fracturing involves pumping water into the well under pressure to cause fractures that allow a higher rate of production. Further enhancement comes with 3-D seismic imaging, which helps guide exploration to actual pockets of oil and gas. GMX, for instance, has a 100% success rate across 335 wells.
The company has invested $60 million in infrastructure, including its own rigs, and this makes it the lowest-cost producer in the region. In response to an analyst’s question on the recent conference call, Kenworthy said that the company would hire third-party rigs to accelerate development, even if that raised average costs somewhat.
GMX beat consensus estimates for the first quarter ended March 31 by reporting earnings of $0.40 per share, 25% ahead of the $0.32 consensus and nearly double $0.21 in the year-ago period. The average estimate for the current quarter, ending June 30, is $0.50, compared with $0.26 a year ago. For all of 2008, the forecast is $1.91, compared with $0.93 in 2007, rising to $2.62 next year.
Revenue estimates for the year are $129 million, an 90% gain over 2007. Currently the stock has two “strong buys,” two “buys,” and one “hold.” GMX closed Thursday at $67.52, giving it a market cap of $1.12 billion.
BREAKING NEWS
http://investorshub.advfn.com/boards/board.aspx?board_id=13230
On Wednesday we detailed three of the largest issues affecting oil prices. To review they are:
1. Geopolitical concerns (Iran, Russia, and Pakistan)
2. Speculation (in July, 11% of oil contracts were controlled by one trader)
3. The over-leveraged financial system.
These three items make forecasting oil prices virtually impossible. Fortunately, oil’s ugly cousin, natural gas, doesn’t suffer quite the same fate.
Natural gas is relatively free of the first two factors — the US produces most of its gas domestically and speculation in the natural gas markets is significantly lower than in the oil markets. However, neither of these stopped natural gas from being brutalized by the third factor: over-leveraged investors.
Natural gas has a lot going for it. Cleaner and cheaper than oil, less politically charged than nuclear power, and located domestically, it’s hands down the most viable choice for long-term energy policy. US power plants know this and consequently have begun switching to natural gas power in droves.
According to the Energy Tribune 90% of the US energy capacity that has been added since 1998 has been natural gasified. Electrical generation based on natural gas has increased 34% since 2002. And several of the US’s largest states — California, Texas, and Florida — are now generating between 40% and 50% of their energy from natural gas
Unfortunately, investors — particularly overleveraged hedge funds — also knew about natural gas’s positive qualities and piled into the commodity. So when natural gas prices began to slide along with oil in mid-July, these guys, terrified of margin calls, issued a fire sale, pushing natural gas prices down 40% from over $13 to $8 and change. By way of comparison, oil only fell 20% during the same time period.
Natural gas is now significantly oversold, especially relative to oil. Over the last 18 years, oil, on average, has traded at 9.2 times the price of natural gas. Today, the ratio stands at 13: a 13-year high.
Put another way, oil needs to plunge to $72, natural gas needs to rise 50% to $12, or some combination of the two needs to occur to bring this relationship back in line with historic trends.
There’s also a seasonal effect here. Natural gas has put in a seasonal bottom during August-September in six of the last seven years. Looking at the latest monster sell-off, it looks as though this effect took hold earlier than usual this year due to the unwinding of over-leveraged investors.
In addition, the sell-off has also made many unconventional natural gas projects — primarily in Texas, which supplied more than 50% of the increase in domestic production between 1Q07 and 1Q08 — no longer economical. Thus, with natural gas today we have the rare combination of:
* A seasonal bottom
* An oversold condition
* A fuel source that is cheap relative to its peers and politically neutral
* The cold season approaching
Be advised, natural gas, like all commodities, is having a volatile time right now. So if you look to invest in this market — or in natural gas stocks — be prepared for a bumpy ride. But I have little doubt that within six months you’ll have turned a tidy profit. And the fundamentals are certainly better than oil.
Do you see what I see ?????
CAT 4 Direction GULF OF MEXICO !!!!
CHESAPEAKE ENERGY CORPORATION UNVEILS NATIONAL CAMPAIGN TO ENCOURAGE SWITCH FROM FOREIGN OIL TO AMERICAN NATURAL GAS IN U.S. TRANSPORTATION SECTOR
http://www.prnewswire.com/mnr/chesapeakeenergy/34793/
CHESAPEAKE ENERGY CORPORATION UNVEILS NATIONAL CAMPAIGN TO ENCOURAGE SWITCH FROM FOREIGN OIL TO AMERICAN NATURAL GAS IN U.S. TRANSPORTATION SECTOR
http://www.prnewswire.com/mnr/chesapeakeenergy/34793/
They told me 17 !
Are you sure ?
IKE IN MIAMI ?
CAT 3 or 4
Anadarko to buy back up to $5B in shares or 18 percent of company's stock
Oil and gas company Anadarko Petroleum Corp. said Monday it will buy back up to $5 billion of its shares over the next three years.
Continental Resources increases Bakken shale holdings to 577,000 acres (CLR) 44.16 : Co announces that it has recently added 36,000 net acres to its holdings in North Dakota Bakken, including 32,000 net acres in Mercer County, adjacent to other Continental acreage. The co's total acreage position is now 577,000 net acres in the Bakken shale play of North Dakota and Montana.
Continental Resources increases Bakken shale holdings to 577,000 acres (CLR) 44.16 : Co announces that it has recently added 36,000 net acres to its holdings in North Dakota Bakken, including 32,000 net acres in Mercer County, adjacent to other Continental acreage. The co's total acreage position is now 577,000 net acres in the Bakken shale play of North Dakota and Montana.
FOR THE RECORD, 81% OF THE FLOAT IS IN THE HANDS OF INSIDERS
GBDX mention Krystall in the PR of Nov 2006.
So they can be in trouble If it isn't true....
Why no fluff in PR's to push the price up and make more money ?
I've a question.
If the Russian have left the boat, who've increased the A/S from time to time until may-june ?
Sombody call Helen T/A to ask this !
We're way oversold here...
I need to find some cash, good long term ETF.
Hanna will be a CAT 4 Before touching SC and/or NC
Who is Ttgtl ?
Follow the link for the joint venture.
http://www.apostille.us/news/global_diamond_exchange_announces_joint_venture_partner.shtml
http://findarticles.com/p/articles/mi_pwwi/is_200611/ai_n16855233
BREAKING NEWS
http://investorshub.advfn.com/boards/board.aspx?board_id=13230
Global Diamond Exchange (PINKSHEETS: GBDX) is pleased to announce the details of a joint venture partner. The partner, who will increase Global's allotment of rough, cut and polished diamonds, is "Diamond Certificate" -- a Russian joint stock company.
Diamond Certificate consists of and is owned by several groups including -- Smolensk Brilliants Association -- A union of 8 diamond cutting facilities in Smolensk; The Smolensk Government Facility "Crystal" -- The largest Diamond cutting facility in the Russian Federation employing over 4000 diamond cutters; The Sheremetyevo Insurance company, part of the Russian Federation; Olympus -- which is a variety of private and corporate entities that control the world's largest diamond mine; one of the largest banks in Russia, the Mezvynarodnij Aktsonirnij Bank, from Moscow, also part of the Russian Federation; and a private individual with over twenty-five years of diamond experience dating back to the 1980s.
Under the terms of the agreement, Global Diamond Exchange will provide the marketing, sales, and office locations. Diamond Certificate will provide acquisition of rough diamonds, supervision of the cutting and polishing, the exporting of the finished or rough product and/or the purchase of finished goods, along with the custom exports.
Smolensk Diamonds USA
The company’s office is situated on the famous New York’s Fifth Avenue.
580 Fifth Avenue, New York
NY 10036, USA
Tel: + 1 (212) 9214300
Fax: +1 (212) 9214646
You can always reach Mr. Nikolai Senukhin, the President of Smolensk Diamonds USA by phones:
+ 1 (212) 9214300 (USA)
+ 7 (4812) 611331 (Russia)
E-mail: sdusa@kristallsmolensk.com
DOUBLE PUNCH HANNA + IKE
DOUBLE PUNCH HANNA + IKE
NINE NEXT, THE NEXT FRAN ?
BREAKING NEWS
http://investorshub.advfn.com/boards/board.aspx?board_id=13230
Was last week (Thursday).
I Was suprise how friendly they're.
Why all this nerves here ?
It's not forbidden to call the SEC right ?
BREAKING NEWS
http://investorshub.advfn.com/boards/board.aspx?board_id=13230
I've just called the SEC.
They ask me to send a mail to justify my NS claim.
I've send :
-May activty (5 days non stop buying from etrd)
-All the records (IP adress, names, message) from the bashers of I-hub and RB.(20 people)
-All the PR from gbdx and the strange a/d pattern
Let's wait and see.....
BIG EYE
WOW !!!!
GUSTAV IS CAT 5
They say on TV it will the storm of a lifetime and 85% chance he will hit dozens of oil plateform.
Amazing, 160 mph right now....
CLICK ON ENGLISH LARGE.
ENJOY
http://theorionconspiracy.com/
All the big volume days are green....
http://stockcharts.com/h-sc/ui?s=GBDX&p=D&yr=0&mn=8&dy=0&id=p57286015768
ALWAYS NICE TO HAVE INSIDERS ON YOUR SIDE !
% Held by Insiders :
CLR 81.67%
BFRE 77.61%
NOG 50.24%
ATN 46.85%
FSLR 46.52%
NBF 45.32%
VSE 41.00%
ASTI 40.24%
AKNS 39.83%
DRYS 36.04%
KWK 34.66%
VRNM 32.80%
EMKR 29.89%
BREAKING NEWS
http://investorshub.advfn.com/boards/board.aspx?board_id=13230
NG price = Oil price /6
Historically
Normally NG should be around 15-20$.
Very low here.
UNG is good way to play this.
Too bad I can't jump in....
I'm not in UNG, but my boss (Fortis bank) urge me to buy this....
http://finance.yahoo.com/q?s=UNGJX.X
Good luck folks.
Iraq revives oil deal with China
Iraq's oil minister yesterday revived a big oil deal first negotiated between China and the government of Saddam Hussein, but has indicated the terms of the contract would be far less generous.
If finalised, the deal with China National Petroleum Co to develop the al-Ahdab field would mark the first important commitment to Iraq by a foreign company since the country nationalised its industry in 1972.
Iraq and CNPC have agreed the renegotiated terms of an old deal signed in 1997 to pump oil from the al-Ahdab oilfield, Hussain Shahristani told the Reuters news agency. CNPC is Asia's biggest oil and gas company.
"Finally we have reached an agreement," Mr Shahristani said after clinching the deal. "The total investment of the project is expected to be about $3bn (€2bn, £1.6bn)."
But it was not clear yesterday whether the deal would still require the approval of a cabinet committee that has sought to scrutinise oil agreements.
An important area of contention are the terms of any contract Iraq signs with foreign oil companies.
Under a service contract, oil companies are paid a flat fee for their services, rather than gaining a share of the profits. Oil companies generally dislike service contracts because they do not allow for much upside potential. But advocates of service agreements have argued that oil companies take on very little risk in Iraq and should therefore not be rewarded with more than a flat fee.
The al-Ahdab field, 160km from Baghdad, is expected to be able to produce about 100,000 barrels a day. Iraq produces 2.4m b/d of crude, of which it exports 1.9m.
Reports from the region say the contract would last for 20 years and be worth anything from $1bn to $3bn. But much is still up in the air in Iraq and Mr Shahristani's ambitions have often been foiled by disagreements within Baghdad's power elite.
Analysts say political bickering is now doing more to delay the rehabilitation of Iraq's industry and the engagement of foreign companies than security concerns.
The oil ministry's efforts to sign short-term technical service agreements with oil majors - which would involve Iraq paying the companies for technical advice to raise oil output - have faltered, raising doubts over the fate of nearly year-long negotiations even as some companies say they are still interested.
Meanwhile, foreign companies bidding for longer-term contracts, which would involve billions of dollars of investment, are having to proceed without the security of clear hydrocarbons legislation. A draft law regulating the oil industry and the distribution of oil revenues has been stuck in parliament for more than a year, with little prospect of approval.
Response From De Beers....
De Beers to Provide 4Q Funds to Select Sightholders
De Beers has made a special allocation of funds to a select group of Diamond Trading Company (DTC) sightholders for fourth quarter marketing activities.
“These financial contributions will help support marketing initiatives with the sightholders’ chosen downstream partners to grow consumer demand for diamond jewelry during the last quarter of this year,” DTC confirmed in a memo.
The company added that these “co-op marketing funds” were made available to all sightholders who were able to drive incremental sales with their downstream partners, wherever they operate.
Not all sightholders qualified for the funds, however, but rather those who fulfilled a set of objective marketing, goods and BPP (best practice principle) focused criteria, DTC explained.
DTC spokesperson Louise Prior stressed the funding was not part of a wider De Beers generic marketing program but was “a demonstration of the DTC's ability to listen and respond to our sightholders and work closely with them as leaders of the diamond industry.”
De Beers contended earlier this year it would cut its spending on generic advertising for the industry and has repeated a call for the industry to take up more responsibility for promoting diamond sales.
Under 850$, Gold is a gift.
Should trade from 900$ to 1300$ in 2009.
BREAKING NEWS
http://investorshub.advfn.com/boards/board.aspx?board_id=13230
GULF OF MEXICO UNDER ATTAK
BREAKING NEWS
http://investorshub.advfn.com/boards/board.aspx?board_id=13230
U.S. Deadline to Report Rough Imports, Exports.
Inventory is Sept. 1
The DMIA reminded the industry today that all of those engaged in the rough diamond trade must file their first annual rough diamond import and export report with the federal government.
The deadline for filing is September 1, 2008, to report for the calendar year 2007. The next deadline is April 1, 2009, to file for calendar year 2008 - and from each April 1st from that point on.
Importers and exporters may e-mail their report and there was no specific format the government required, but the information must include the following data: Identities of the importer and/or exporter (name, address, telephone number, fax, and e-mail address) and the total amount of import/export activity for each of the three harmonized tariff codes (7102.10, 7102.21 and 7102.31.) This should include the total amount of carats of each classification of rough diamonds imported and exported, the total number of import and exported shipments and information on remaining stockpiles or rough diamonds as of the end of the reporting year, reported both in number of carats and approximate value.
E-mail the report to USKimberleyProcess@state.gov.
Failure to file exposes you to a civil fine of $10,000 for each instance of non-compliance, or criminal penalties of up to $50,000 in fines and 10 years imprisonment.
The Office of Foreign Assets Control of the U.S. Department of the Treasury (OFAC) amended the rough diamond control regulations in May. The changes did not require public hearing the OFAC concluded.
New: SEC 592.502 Annual Reports by Rough Diamond Importers and Exporters